The event marks a significant milestone in the strategic partnership between VinFast and the Tamil Nadu state government, aiming to promote sustainable transportation development in India and the region.
The strategic partnership between VinFast and the Tamil Nadu state government was established in a Memorandum of Understanding (MoU) signed on January 6th. VinFast has committed to investing $500 million in Phase 1 of the electric vehicle manufacturing plant project, to be implemented over 5 years.
This project is seen as a crucial step in VinFast’s global expansion journey, marking a strong stride into one of the world’s leading potential electric vehicle markets.
The groundbreaking ceremony for the electric vehicle production facility took place just over a month after the MoU was announced, demonstrating VinFast’s strong determination and rapid implementation in its global expansion plans.
With the vision to become a leading electric vehicle production center in the region, the plant project will have a capacity of up to 150,000 electric vehicles per year when fully operational. This facility will not only meet the development goals in the Indian market but also serve the export goals to South Asia, the Middle East, and Africa.
The integrated electric vehicle production plant project by VinFast in Tamil Nadu is expected to create around 3,000-3,500 jobs for the local labor market, showcasing VinFast’s commitment to contributing to the sustainable development of the community.
Furthermore, the project plays a crucial role in promoting green transportation development in India, contributing to the realization of the Indian government’s goal of having 30% of all new personal vehicles registered as electric. This strategic plan aims to reduce carbon emissions in the transportation sector and protect the environment.
As a pioneer electric vehicle manufacturer from Vietnam with a global vision, VinFast continuously innovates and researches, aiming to become one of the top brands in the electric vehicle industry and create a green future for all.
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